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Bitcoin dominance will continue to rise at the expense of altcoins



That predicts the well-known cryptocurrency trader and analyst during the latest episode of his YouTube series published on December 22.



24.Dec.19 3:20 PM
By Shawn Highstraw
Photo toinnov.com

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Bitcoin dominance will continue to rise at the expense of altcoins
Tone Vays says that the dominance of bitcoin (BTC) in the market will increase sharply next year, which will be at the expense of altcoins. That predicts the well-known cryptocurrency trader and analyst during the latest episode of his YouTube series published on December 22.

The market dominance of bitcoin increased in 2019 from around 52% in January to no less than 70% at the time of writing. Vays expects this to continue in 2020 and that bitcoin will hold 85% somewhere next year.

In the long term, Vays expects BTC's dominance to continue to 98%, leaving hardly any of the altcoins:

"I think Bitcoin dominance still has a little push. The way we went from around 50% to 70% in 2019, I think bitcoin has another 10-15% to win in Bitcoin on the shitcoins. Then it will continue towards 90%, 95% and ultimately 98%"

One of the reasons for this is, according to Vays, the hash rate, or computing power, of the bitcoin network. Despite the price falls since the end of 2017, this has only continued to rise, making the blockchain stronger and safer. No "shitcoin" has a hash rate growth like that of bitcoin, according to Vays, who is known to be no big altcoin fan.



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